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Occupy Wall Street for what?

Original post made by Occupy Wallstreet, Another Pleasanton neighborhood, on Jan 9, 2012

A bit of insight into occupy Wall Street here.
Pleasanton Weekly readers in general comment that the occupy movement are left wing liberal homeless etc.

Republicans are heavily funded by Wall Street and generally for big business.

Unregulated for ten years under the GOP administration, here is part of the damage and we the taxpayors bailed out Wall Street.

Complaints have been filed against the following lead defendants, in alphabetical order:

1. Ally Financial Inc. f/k/a GMAC, LLC – $6 billion
2. Bank of America Corporation – $6 billion
3. Barclays Bank PLC – $4.9 billion
... 4. Citigroup, Inc. – $3.5 billion
5. Countrywide Financial Corporation -$26.6 billion
6. Credit Suisse Holdings (USA), Inc. – $14.1 billion
7. Deutsche Bank AG – $14.2 billion
8. First Horizon National Corporation – $883 million
9. General Electric Company – $549 million
10. Goldman Sachs & Co. – $11.1 billion
11. HSBC North America Holdings, Inc. – $6.2 billion
12. JPMorgan Chase & Co. – $33 billion
13. Merrill Lynch & Co. / First Franklin Financial Corp. – $24.8 billion
14. Morgan Stanley – $10.6 billion
15. Nomura Holding America Inc. – $2 billion
16. The Royal Bank of Scotland Group PLC – $30.4 billion
17. Société Générale – $1.3 billionSee More


Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing & billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve...

Comments (7)

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Posted by John
a resident of Another Pleasanton neighborhood
on Jan 9, 2012 at 9:45 pm

Then we get this kind of response from these same people- Web Link

What are people protecting with their criticism and insults towards those who are following the Occupy Movement? Themselves? Or are they simply waiting for others to do the work to end this kind of waste that has destroyed our economy.


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Posted by Patriot
a resident of Another Pleasanton neighborhood
on Jan 9, 2012 at 9:53 pm

This is so tiresome. This is a really serious subject. If we just use is as an excuse to prop up or bash Democrats or Republicans, nothing will change.


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Posted by Dan
a resident of Bridle Creek
on Jan 10, 2012 at 7:23 am

To wholly blame the financial sector is to be completely ignorant as to who is making the rules.

Maybe you should review the basics of lobbying by all special interests:

Lobby "A" (lets say the financial lobby, but you can pick any) meets with its favorite politicians and discusses the need for regulation or rescinding existing regulation. Politician "A" plays coy and makes a nit about the request.

Not being able to persuade politician "A" with the logic of it's position, lobby "A" then decides to make a "contribution" to politician "A" and VOILA!, he decides that yes, the regulation needs to be created or rescinded.

Nothing I described above is patently illegal but it most definitely is unethical as well as morally reprehensible. The Lobby is playing the game that the politician has dictated: PAY FOR PLAY.

Bottom line: The buck stops at our politicians, Democrat and Republican, and NOT with the special interests. They're doing what they have to do and our politicians are allowing it. To think otherwise is ridiculous.

Regards,

Dan


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Posted by GX
a resident of Foothill High School
on Jan 10, 2012 at 8:19 am

GX is a registered user.

I concur with Dan. Wall Street was a major source of the problems but not the only by a long shot. Government had a lot to do with it (policies, regulation, GSEs, Congress, etc.). So did the Mortgage companies and so did irresponsible home owners.

For those who are interested in expanding their understanding of what caused the crisis, I recommend "All the Devils are Here" by McLean and Nocera.

This being said, I am all for eliminating all subsidies to Wall Street and Freddie/Fannie so that bankers can get paid what they are worth (according to the value they create) not what they think they should be paid.

But keep in mind this also means that bond holders will no longer be bailed out which will impact pensions, etc.


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Posted by steve
a resident of Parkside
on Jan 10, 2012 at 10:14 am

Speaking of continuation of the source of problem, anyone care to correlate the 'lead defendant's listed above with the amounts they've contributed thus far to obama's re-election bid?


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Posted by Robert Rubin
a resident of Another Pleasanton neighborhood
on Jan 11, 2012 at 9:00 pm

No particular Republican names. However, Clinton's ROBERT RUBIN was top dog at CitiGroup leading up to collapse.


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Posted by Angus
a resident of Another Pleasanton neighborhood
on Jan 25, 2012 at 10:13 am

It is curious. The supporters of the Occupy mob seem to whish to justify mindless civil disobediance by accusing the Repbulicans of beng supported by rich corparate entities? This simple minded approach is sophomoric at best. With a modicum of effort one can ascertain that the proggressive Democrat is equally supported, (and handsomely), supported by not only rich corporate entities, but very wealthy left leaning individuals. The occupiers are themselves being supported financially through the largess of the infamous George Sorros, supporter of all movements that encourage the downfall of our system. Regardless of one's political party, I believe one should look and listen to what the "occupiers" say and do. They are united in only one particular sense. They are disjointed, without a cogent philosophy, range from the pathetically mentally deranged, to the misquided psuedo intellectual, and they are easily being misdirected and manipuleted by a cadre of political zealots the fervently want to replace our beloved, but flawed system of capitalism, and individual liberty with a socialist paradise ala
the former USSR or People's Republic of China, Cuba etc. Yes, yes, the Corporate world has been quilty of a lot, as have our politicians from all stripes. Rather than camping out on the lawn of a city park, spreading garbage, desease, and public defecation, our anger should be directed at replacing the corrupt in government, and exposing the crooks to well documented scrutiny. This whole situation is our fault, we continue to vote corrupt politicians into high office. We need to change the culture at the ballot box before the crooks completely corrupt the electoral process....


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